Income Tax Act

소득세법

Act · 재정경제부 · English text effective 2024-05-17 · Korean current 2026-07-01

Articles

• CHAPTER I GENERAL PROVISIONS
• Article 1 Purpose
• Article 1-2 Definitions
• Article 2 Tax Liability
• Article 2-2 Scope of Tax Liability
• Article 2-3 Scope of Tax Liability for Income Vested in Trust Asset
• Article 3 Scope of Taxable Income
• Article 4 Classification of Income
• Article 5 Taxable Period
• Article 6 Place for Tax Payment
• Article 7 Place for Tax Payment in Cases of Withholding, etc.
• Article 8 Place for Tax Payment in Cases of Inheritance, etc.
• Article 9 Designation of Place for Tax Payment
• Article 10 Report on Change of Place for Tax Payment
• Article 11 Jurisdiction over Taxation
• CHAPTER II TAX LIABILITY ON RESIDENT'S GLOBAL INCOME AND RETIREMENT INCOME
• SECTION 1 Non-Taxation
• Article 12 Non-Taxable Income
• Article 13 null
• SECTION 2 Calculation of Tax Base and Tax Amount
• Subsection 1 Common Provisions on Calculation of Tax Amount
• Article 14 Calculation of Tax Base
• Article 15 Order in Calculation of Tax Amount
• Subsection 2 Categories and Amount of Income
• Article 16 Interest Income
• Article 17 Dividend Income
• Article 18 null
• Article 19 Business Income
• Article 20 Wage and Salary Income
• Article 20-2 null
• Article 20-3 Pension Income
• Article 21 Other Income
• Article 22 Retirement Income
• Article 23 null
• SECTION 3 Calculation of Amount of Income
• Subsection 1 Total Amount of Income
• Article 24 Calculation of Total Amount of Income
• Article 25 Special Cases concerning Calculation of Total Amount of Income
• Article 26 Exclusion from Total Income
• Subsection 2 Necessary Expenses
• Article 27 Calculation of Necessary Expenses of Business Income
• Article 28 Calculation of Allowance for Bad Debts as Necessary Expenses
• Article 29 Calculation of Reserves for Retirement Benefits as Necessary Expenses
• Article 30 null
• Article 31 Calculation of Necessary Expenses for Value of Assets Acquired with Gains on Insurance Settlement
• Article 32 Calculation of Value of Assets for Business Acquired with National Subsidies as Necessary Expenses
• Article 33 Exclusion from Necessary Expenses
• Article 33-2 Special Cases concerning Exclusion of Expenses, etc. Related to Business-Use Passenger Vehicles from Necessary Expenses
• Article 34 Exclusion of Donations from Necessary Expenses
• Article 35 Exclusion of Business Promotion Expenses from Necessary Expenses
• Article 36 null
• Article 37 Calculation of Necessary Expenses of Other Income
• Article 38 null
• Subsection 3 Attributed Tax Year and Value of Acquisition
• Article 39 Year to which Total Income and Necessary Expenses are Attributed, etc.
• Article 40 null
• Subsection 4 Special Cases concerning Calculation of Amount of Income
• Article 41 Calculation by Wrongful Acts
• Article 42 Special Cases concerning Calculation of Amount of Income on Transactions with Nonresident, etc.
• Article 43 Special Cases concerning Calculation of Joint Business Income
• Article 44 Separate Calculation of Amount of Income in Cases of Inheritance
• Article 45 Deduction of Losses and Losses Carried Forward
• Article 46 Special Cases concerning Calculation of Amount of Income from Bonds, etc.
• Article 46-2 Special Cases concerning Calculation of Interest Income due to Early Cancellation
• Subsection 5 Wage and Salary Income Deduction, Pension Income Deduction, and Retirement Income Deduction
• Article 47 Wage and Salary Income Deduction
• Article 47-2 Pension Income Deduction
• Article 48 Retirement Income Deduction
• Article 49 null
• Subsection 6 Global Income Deduction
• Article 50 Basic Deduction
• Article 51 Additional Deduction
• Article 51-2 null
• Article 51-3 Pension Contribution Deduction
• Article 51-4 Interest Expense Deduction for Reverse Mortgage-Backed Retirement Pension System
• Article 52 Special Income Deduction
• Article 53 Scope of Dependents Living Together and Time for Determination thereof
• Article 54 Exclusion from Global Income Deduction, etc.
• Article 54-2 Special Cases concerning Income Deduction for Joint Business, etc.
• SECTION 4 Calculation of Tax
• Subsection 1 Tax Rates
• Article 55 Tax Rates
• Subsection 2 Tax Credit
• Article 56 Dividend Tax Credit
• Article 56-2 Tax Credit for Bookkeeping
• Article 56-3 Tax Credit for Transmission of Issued Electronic Invoices
• Article 57 Foreign Tax Credit
• Article 57-2 Special Cases concerning Foreign Tax Credit on Income Received from Indirect Investment Company, etc.
• Article 58 Tax Credit for Casualty Loss
• Article 59 Tax Credit for Wage and Salary Income
• Article 59-2 Tax Credit for Children
• Article 59-3 Tax Credit for Pension Accounts
• Article 59-4 Special Tax Credits
• Article 59-5 Reduction or Exemption of Tax
• Article 60 Order of Application, etc. of Tax Reduction or Exemption or Tax Credit
• Article 61 Methods of Application, etc. where Tax Exemption or Reduction or Tax Credit Exceeds Calculated Tax Amount
• SECTION 5 Special Cases in Calculation of Tax
• Article 62 Special Case concerning Calculation of Tax in Relation to Global Taxation on Interest Income, etc.
• Article 63 Special Case concerning Calculations of Tax on Excess Repayment from Workplace Mutual-Aid Association
• Article 64 Special Cases concerning Calculation of Tax Amount for Real Estate Broker
• Article 64-2 Special Cases concerning Calculation of Tax Amount on House Rental Income
• Article 64-3 Special Cases concerning Calculation of Tax on Other Income Subject to Separate Taxation
• Article 64-4 Special Cases concerning Calculation of Tax on Pension Income
• SECTION 6 Interim Prepayment, Preliminary Return and Payment of Tax
• Subsection 1 Interim Prepayment
• Article 65 Interim Prepayment
• Article 66 null
• Article 67 null
• Article 68 Special Cases concerning Interim Prepayment by Member of Taxpayers Association
• Subsection 2 Preliminary Return on Profit Margin from Sale of Land, etc. and Payment
• Article 69 Preliminary Return on Profit Margin from Sale and Purchase of Land, etc. and Voluntary Payment by Real Estate Broker
• SECTION 7 Final Return on Tax Base and Voluntary Payment
• Article 70 Final Return on Tax Base of Global Income
• Article 70-2 Submission of Certificate of Confirmation of Compliant Filing
• Article 71 Final Return on Tax Base of Retirement Income
• Article 72 null
• Article 73 Exception to Final Return on Tax Base
• Article 74 Special Cases concerning Final Return on Tax Base
• Article 75 Application for Reduction or Exemption of Tax
• Article 76 Final Tax Return and Payment
• Article 77 Payment in Installment
• SECTION 8 Report and Confirmation on Present Status of Place of Business
• Article 78 Report on Present Status of Place of Business
• Article 79 Investigation and Confirmation on Present Status of Place of Business
• SECTION 9 Determination, Correction, Collection and Refund
• Subsection 1 Determination and Correction of Tax Base
• Article 80 Determination and Correction
• Article 81 Penalty Tax for Non-Submission or Faulty Preparation of Detailed Statement of Reception of Receipts
• Article 81-2 Penalty Tax for Non-Submission of Certificate of Confirmation of Compliant Filing
• Article 81-3 Penalty Tax for Non-Submission or Faulty Preparation of Report on Present Status of Place of Business
• Article 81-4 Penalty Tax for Failure to Register or Report on Place of Joint Business
• Article 81-5 Penalty Tax for Failure in Record-Keeping or Incorrect Entries
• Article 81-6 Penalty Tax for Non-Receipt or Faulty Receipt of Evidentiary Documents
• Article 81-7 Penalty Tax for Faulty Inssuance, Preparation, or Retention of Donation Receipt
• Article 81-8 Penalty Tax for Faulty?Report and Use of Business Account
• Article 81-9 Penalty Tax for Faulty Issuance of Credit Card and Cash Receipt
• Article 81-10 Penalty Tax for Faulty Submission of Invoice
• Article 81-11 Penalty Tax for Non-Submission or Faulty Submission of Payment Statement, etc.
• Article 81-12 Penalty Tax for Non-Registration of House Rental Business Entity
• Article 81-13 Penalty Tax for Faulty Submission of Calculation Statement of Reserved Income of Specific Foreign Corporation
• Article 81-14 Penalty Tax for Faulty Submission of Statement of Expenses Related to Business-Use Passenger Vehicle
• Article 82 Determination of Occasional Imposition
• Article 83 Notification of Tax Base and Amount of Tax
• Article 84 Threshold of Taxation on Other Income
• Subsection 2 Collection and Refund of Tax
• Article 85 Collection and Refunds
• Article 85-2 Refund from Loss Carryback of Small or Medium Enterprise
• Article 86 Non-Collection of Small Sum
• SECTION 10 Special Cases concerning Places of Joint Business
• Article 87 Special Cases concerning Places of Joint Business
• CHAPTER II-2 RESIDENT'S TAX LIABILITIES FOR FINANCIAL INVESTMENT INCOME[Enforcement Date: Jan. 1, 2025]
• SECTION 1 Definition[Enforcement Date: Jan. 1, 2025]
• Article 87-2 Definitions
• SECTION 2 Non-Taxation of Financial Investment Income[Enforcement Date: Jan. 1, 2025]
• Article 87-3 Non-Taxable Financial Investment Income
• SECTION 3 Calculating Tax Base and Tax Amount of Financial Investment Income[Enforcement Date: Jan. 1, 2025]
• Article 87-4 Calculating Tax Base of Financial Investment Income
• Article 87-5 Calculation Order for Financial Investment Income Tax Amount
• CHAPTER III RESIDENT'S TAX LIABILITIES FOR CAPITAL GAINS
• SECTION 1 Definition of Transfer
• Article 88 Definitions
• SECTION 2 Non-Taxation and Reduction and Exemption of Capital Gains
• Article 89 Non-Taxable Capital Gains
• Article 90 Reduction and Exemption of Capital Gains Tax
• Article 91 Exclusion of Non-Taxation, Reduction or Exemption of Capital Gains Tax
• SECTION 3 Computation of Tax Base and Tax of Capital Gains
• Article 92 Calculation of Tax Base of Capital Gains
• Article 93 Order in Calculation of Amount of Capital Gains Tax
• SECTION 4 Computation of Amount of Capital Gains
• Article 94 Scope of Capital Gains
• Article 95 Amount of Capital Gains
• Article 96 Transfer Value
• Article 97 Calculation of Necessary Expenses for Capital Gains
• Article 97-2 Special Cases concerning Necessary Expenses for Capital Gains
• Article 98 Time of Transfer or Acquisition
• Article 99 Computation of Assessed Value
• Article 99-2 Application for Reassessment and Public Notification of Assessed Value
• Article 100 Computation of Gains on Transfer
• Article 101 Calculation of Capital Gains by Wrongful Acts
• Article 102 Separate Calculation of Amount of Capital Gains
• SECTION 5 Basic Deduction for Capital Gains
• Article 103 Basic Deduction for Capital Gains
• SECTION 6 Calculation of Tax Amount of Capital Gains
• Article 104 Tax Rates of Capital Gains
• Article 104-2 Operation of Designated Area
• Article 104-3 Scope of Land for Non-Business Use
• SECTION 7 Preliminary Return on Tax Base of Capital Gains and Payment
• Article 105 Preliminary Return on Tax Base of Capital Gains
• Article 106 Payment by Preliminary Return
• Article 107 Calculation of Tax for Preliminary Return
• Article 108 Submission of Real Estate Transfer Notification Certificate by Korean National Residing Abroad and Foreigner
• Article 109 null
• SECTION 8 Final Return on Tax Base of Capital Gains and Payment
• Article 110 Final Return on Tax Base of Capital Gains
• Article 111 Final Return and Payment
• Article 112 Payment of Capital Gains Tax in Installment
• Article 112-2 null
• Article 113 null
• SECTION 9 Determination, Correction, Collection and Refund of Capital Gains
• Article 114 Determination, Correction, and Notification of Tax Base and Tax Amount on Capital Gains
• Article 114-2 Penalty Tax on Application of Appraised Value or Converted Acquisition Value
• Article 115 null
• Article 115-2 Submission of Statement of Changes in the List of Beneficiaries
• Article 116 Collection of Capital Gains Tax
• Article 117 Refund of Capital Gains Tax
• Article 118 Provisions Applicable Mutatis Mutandis
• SECTION 10 Capital Gains Tax on Transfer of Overseas Assets
• Article 118-2 Scope of Capital Gains from Overseas Assets
• Article 118-3 Value of Transfer of Overseas Assets
• Article 118-4 Calculation of Necessary Expenses of Capital Gains from Overseas Assets
• Article 118-5 Tax Rate of Capital Gains from Overseas Assets
• Article 118-6 Credit for Foreign Taxes Paid on Capital Gains from Overseas Assets
• Article 118-7 Basic Deduction for Capital Gains from Overseas Assets
• Article 118-8 Provisions Applicable Mutatis Mutandis for Transfer of Overseas Assets
• SECTION 11 Special Cases concerning Taxation on Domestic Stocks, etc. upon Departure of Residents
• SECTION 11 Deleted.[Enforcement Date: Jan. 1, 2025]
• Article 118-9 null
• Article 118-10 null
• Article 118-11 null
• Article 118-12 null
• Article 118-13 null
• Article 118-14 null
• Article 118-15 null
• Article 118-16 null
• Article 118-17 null
• Article 118-18 null
• CHAPTER IV TAX LIABILITIES OF NONRESIDENTS
• SECTION 1 Common Provisions concerning Calculation of Tax on Nonresidents
• Article 119 Domestic Source Income of Nonresident
• Article 119-2 Special Cases Concerning Substantive Owner in Foreign Investment Vehicle
• Article 119-3 Special Cases concerning Taxation on Interest and Capital Gains of State Bonds, etc. of Nonresident
• Article 120 Domestic Place of Business of Nonresident
• Article 121 Method of Taxation on Nonresident
• SECTION 2 Global Taxation on Nonresident
• Article 122 Calculation of Tax Base and Tax Amount in Cases of Global Taxation on Nonresident
• Article 123 null
• Article 124 Return and Payment by Nonresident
• Article 125 Determination and Collection of Tax Base and Tax for Nonresident
• SECTION 3 Separate Taxation on Nonresident
• Article 126 Calculation of Tax Base and Tax Amount in Cases of Separate Taxation on Nonresident
• Article 126-2 Special Cases concerning Return and Payment of Income from Transfer of Securities of Nonresident
• CHAPTER V WITHHOLDING OF TAXES
• SECTION 1 Withholding of Taxes
• Subsection 1 Withholding Agent and Collection/Payment
• Article 127 Liability for Withholding Taxes
• Article 128 Payment of Withholding Tax
• Article 128-2 Special Cases concerning Penalty Tax for Late Payment of Withholding Tax
• Article 129 Withholding Tax Rates
• Subsection 2 Tax Withholding from Interest Income or Dividend Income
• Article 130 Timing and Methods for Withholding Taxes from Interest Income and Dividend Income
• Article 131 Special Cases concerning Timing for Withholding Taxes from Interest Income and Dividend Income
• Article 132 null
• Article 133 Issuance of Withholding Tax Receipt on Interest Income, etc.
• Article 133-2 Special Cases concerning Withholding Tax on Bonds, etc.
• Subsection 3 Withholding Tax from Wage and Salary Income
• Article 134 Timing and Methods for Withholding Taxes from Wage and Salary Income
• Article 135 Special Cases concerning Date of Collection of Withholding Taxes
• Article 136 Tax Withheld from Bonus, etc.
• Article 137 Year-End Tax Settlement of Amount of Wage and Salary Income Tax
• Article 137-2 Year-end Tax Settlement of Wage and Salary Income Tax for Persons who Receives Wages and Salaries from Two or More Persons
• Article 138 Year-end Tax of Wage and Salary Income Tax for Reemployed Persons
• Article 139 Carryforward of Shortage in Collection
• Article 140 Return on Income Deduction, etc. by Wage and Salary Income Earner
• Article 141 null
• Article 142 null
• Article 143 Issuance of Withholding Tax Receipt on Wage and Salary Income
• Subsection 3-2 Withholding Tax from Pension Income
• Article 143-2 Timing and Methods for Withholding Tax from Pension Income
• Article 143-3 null
• Article 143-4 Year-end Tax Settlement of Public Pension Income Tax
• Article 143-5 Carryforward of Shortage in Collection
• Article 143-6 Return on Income Deduction, etc. by Pension Income Earner
• Article 143-7 Issuance of Withholding Tax Receipts for Pension Income
• Subsection 4 Withholding Tax from Business Income
• Article 144 Timing and Methods for Withholding from Business Income and Issuance of Withholding Tax Receipt
• Article 144-2 Year-end Tax Settlement of Business Income Tax Except for Final Return on Tax Base
• Article 144-3 Return on Income Deduction, etc. for Year-end Tax Settlement of Business Income Earner
• Article 144-4 Issuance of Withholding Tax Receipt on Business Income subject to Year-end Tax Settlement
• Article 144-5 Special Cases concerning Timing for Withholding Tax from Business Income for Year-end Tax Settlement
• Subsection 5 Withholding Tax from Other Income
• Article 145 Timing and Methods for Withholding Tax from Other Income and Issuance of Withholding Tax Receipt
• Article 145-2 Special Cases concerning Timing for Withholding Taxes from Other Income
• Article 145-3 Year-End Settlement, etc. of Religious Persons’ Income
• Subsection 6 Withholding Tax From Retirement Income
• Article 146 Timing and Methods for Withholding Tax from Retirement Income and Issuance, etc. of Withholding Tax Receipt
• Article 146-2 Special Cases concerning Accrual of Income and Deferment of Collection of Income Tax in Cases of Income-Deferred Retirement Income
• Article 147 Special Cases concerning Timing for Withholding Taxes from Retirement Income
• Article 148 Settlement, etc. of Tax on Retirement Income
• SECTION 2 Tax Withholding by Taxpayers Association
• Article 149 Organization of Taxpayers Association
• Article 150 Liability of Taxpayers Association to Collect Taxes
• Article 151 Payment of Tax Collected by Taxpayers Association
• Article 152 Method of Collection by Taxpayers Association
• Article 153 Management of Tax Payment by Taxpayers Association
• SECTION 3 Special Cases concerning Tax Withholding
• Article 154 Exemption from Tax Withholding
• Article 155 Exclusion from Tax Withholding
• Article 155-2 Special Cases concerning Withholding Taxes from Specified Money in Trust, etc.
• Article 155-3 Special Cases concerning Tax Withholding of Collective Investment Scheme
• Article 155-4 Special Cases concerning Withholding Taxes from Bonus
• Article 155-5 Special Cases concerning Withholding Taxes on Income Generated from Transfer of Paintings, Calligraphic Works, and Antiques
• Article 155-6 Exception to Withholding Taxes on Religious Persons’ Income
• Article 155-7 Special Cases concerning Withholding of Tax on Income Accruing from Non-Real Name Assets
• Article 156 Special Cases concerning Withholding Taxes from Domestic Source Income of Nonresident
• Article 156-2 Application for Non-Taxation or Tax Exemption under Tax Treaty by Nonresident
• Article 156-3 Special Cases concerning Withholding Tax on Bonds, etc. of Nonresident
• Article 156-4 Special Cases concerning Procedures for Withholding Taxes from Nonresidents in Specific District
• Article 156-5 Special Cases concerning Tax Withholding Procedures Related to Services Rendered by Nonresident Entertainers
• Article 156-6 Special Cases concerning Procedures for Withholding Taxes from Nonresidents for Application of Reduced Tax Rate under Tax Treaty
• Article 156-7 Special Cases concerning Withholding Tax on Income of Temporary Staffing Agency Workers of Foreign Corporations
• Article 156-8 Special Cases concerning Application of Tax Rates on Interest, Dividends, and Royalties
• Article 157 Succession to Tax Withholding
• SECTION 4 (Articles 158 and 159) Deleted.
• Article 158 null
• Article 159 null
• CHAPTER VI SUPPLEMENTARY PROVISIONS
• Article 160 Keeping of and Entry in Books
• Article 160-2 Receipt and Keeping of Documentary Evidence of Disbursement of Expenses, etc.
• Article 160-3 Obligations, etc. to Prepare and Retain Details of Issuance of Receipts for Donation
• Article 160-4 Obligations, etc. of Financial Companies, etc. to Prepare and Retain Details of Issuance of Certificates
• Article 160-5 Obligations, etc. to Report and Use Business Accounts
• Article 161 Keeping Separate Entry
• Article 162 Installation and Use of Cash Registers
• Article 162-2 Obligations to Become Member of Credit Card Member Stores and to Issue Credit Card Sales Slips
• Article 162-3 Obligations, etc. to Register as Cash Receipt Merchant and to Issue Cash Receipts for Cash Payment
• Article 163 Preparation, Issuance, etc. of Invoices
• Article 163-2 Submission of Aggregate Table of Tax Invoices by Seller
• Article 163-3 Purchaser-Issued Invoice
• Article 164 Submission of Statement of Payment
• Article 164-2 Special Cases concerning Obligations to Submit Statement of Payment on Domestic Source Income, etc. of Nonresidents
• Article 164-3 Submission of Simplified Statement of Payment
• Article 164-4 Submission of Transaction Details of Virtual Assets
• Article 165 Submission of Supporting Documents for Income Deduction and Tax Credits and Administrative Guidance therefor
• Article 165-2 null
• Article 165-3 null
• Article 165-4 null
• Article 166 Use of Data Processing Information, etc. on Resident Registration
• Article 167 Submission of Certified Copy of Resident Registration Card
• Article 168 Registration of Business Entity and Assignment of Taxpayer Code Numbers
• Article 169 Grant of Subsidy
• Article 170 Inquiry and Investigation
• Article 171 Consultation
• Article 172 Perusal of Documents Related to Sale, Registration and Entry
• Article 173 Submission of Taxation Data for Service Providers
• Article 174 Submission of Materials for Payment of Insurance Payment on Loss
• Article 174-2 Submission and Retention of Transaction and Holding Records of Financial Investment Instruments
• Article 174-3 null
• Article 175 Sample Surveys
• CHAPTER VII PENALITY PROVISIONS
• Article 176 null
• Article 177 Administrative fine for Violation of Ordered Matters

Korean original on law.go.kr · Get this law as JSON via API